How financial institutions can help consumers manage finances in difficult times
The prolonged recession has impacted most consumers’ day-to-day habits, as well as their financial activities. According to a recent survey conducted by Forrester Consulting on behalf of Fiserv, there are some ways financial institutions can use the online channel to help consumers weather difficult economic times and feel more in control of their finances.
Watch this video for more on how consumers say the economy is impacting their financial habits:
Consumers felt that their bank or credit union could help them weather difficult economic circumstances by providing more robust online functionalities, including:
Sending alerts to help customers avoid service fees
Online banking now used by four of five households with Internet access The new 2009 Consumer Billing and Payment Trends Survey, sponsored by Fiserv and conducted by The Marketing Workshop and Harris Interactive, finds a total of 69.7 million households now use online banking services. That’s four out of five online households, which shows online banking continues to grow.
"We believe that consumers will continue to conduct more and more of their financial activities online. Online banking and bill payment is a free service, and a convenient and environmentally friendly way to bank. Consumers are actively becoming fans of the user-friendly, secure services financial institutions are implementing."
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